COVER SHEET AND ASSIGNMENT EVALUATION

NB: THIS IS THE FRONT PAGE (COVER PAGE) OF YOUR ASSIGNMENT

Student Name : Dhievesh Thambiran

Student number : 219047358
E-mail address : [email protected]
Evaluation criteria Weight Mark
Part 1
• Essay 25

Part 2
10

Part 3
10
Technical review
• Language 5
• References

As an academic, I am trying to find ways to incorporate

innovation in our teaching and learning. Instead of stopping
students from using AI tools, I want to try to include these
technologies in our teaching and learning. If you are happy for
your answers to be used for future research, please give
permission below. If you are not comfortable with your feedback
being used, please make sure to not give permission below. No
names are attached to any information used for research. Your
mark remains the same whether you give permission or not.
I give permission to use my answers for research purposes.

Signature: ______________________
TOTAL MARK 50
Part 1:
The contemporary business landscape is undergoing a profound transformation, with
organizations facing unprecedented levels of uncertainty and complexity. The
traditional approaches to strategic management, once seen as reliable blueprints for
success, are now struggling to cope with the dynamic challenges of the 21st century.
In this introductory section, we will delve deeper into the evolving nature of uncertainty
and complexity, setting the stage for a discussion on the challenging insights and
innovative approaches that are reshaping the field of strategic management.

Uncertainty and Complexity in Today's Business Environment

The business world today is marked by a multitude of factors that contribute to the
heightened levels of uncertainty and complexity. These factors include rapid
technological advancements, global interconnectivity, geopolitical shifts, climate
change, and evolving consumer behaviours. Together, they create a business
environment that is both volatile and unpredictable.

Technological Disruption: The rapid pace of technological innovation, including

artificial intelligence, blockchain, and the Internet of Things, has revolutionized
industries and business models. While these technologies offer immense
opportunities, they also introduce new risks and uncertainties, challenging
organizations to adapt or face obsolescence.

Globalization: The interconnectedness of global markets means that economic,

political, or social events in one part of the world can have far-reaching implications
for businesses operating elsewhere. This interconnectedness amplifies uncertainty,
as organizations must consider a multitude of external factors when making strategic
decisions.

Geopolitical Turbulence: Geopolitical tensions, trade disputes, and changing

international alliances add another layer of uncertainty. Organizations must navigate
these complex political landscapes to ensure the continuity of their operations.

Environmental and Societal Challenges: Climate change, social issues, and ethical
considerations are increasingly prominent in strategic decision-making. Organizations
are not only expected to mitigate their environmental impact but also to align their
strategies with societal expectations, which can be multifaceted and rapidly evolving.

Consumer Empowerment: Consumer preferences and expectations have evolved

significantly. With access to a wealth of information, consumers are more empowered
than ever before. They demand transparency, sustainability, and personalized
experiences, forcing organizations to continuously adapt their strategies to meet
changing customer demands.

Economic Uncertainty: Economic fluctuations, such as recessions and financial crises,

are recurring challenges. Organizations must be prepared to withstand economic
shocks while remaining agile enough to capitalize on emerging opportunities.
In this context, the traditional approach to strategic management, characterized by
rigid, long-term planning and a focus on incremental adjustments, often proves
inadequate. The environment is too dynamic, and the risks too multifaceted for
organizations to rely solely on established models.

New Realities in Strategic Management

The evolving nature of uncertainty and complexity has given rise to a host of
challenging insights and innovative approaches in the field of strategic management.
These insights recognize that strategies must be adaptable, responsive, and grounded
in a deeper understanding of the intricate relationships that define today's business
ecosystem. As we explore these insights and approaches in the subsequent sections,
we will see how they are reshaping the dominant discourse on strategic management,
moving it away from predictability and control toward agility and resilience.

The VUCA World: Navigating Turbulence and Unpredictability

The VUCA framework, which stands for Volatile, Uncertain, Complex, and Ambiguous,
has emerged as a vital concept that poses significant challenges to organizations in
today's rapidly evolving business landscape. This framework underscores the intrinsic
volatility and unpredictability of the contemporary environment, forcing organizations
to confront a fundamental shift in how they approach strategic management.
Volatile:
Volatility refers to the rapid and unpredictable changes that occur in the business
environment. These changes can manifest in various forms, such as sudden market
fluctuations, disruptive technological innovations, or unexpected shifts in consumer
preferences. In a volatile world, traditional long-term strategic planning becomes less
reliable, as the assumptions upon which such plans are based can quickly become
outdated.
Uncertain:
Uncertainty highlights the lack of predictability regarding future events and outcomes.
Organizations are often confronted with unknown variables and unexpected
developments that make it difficult to make accurate forecasts. This dimension of
VUCA challenges the conventional notion that the future can be predicted with a high
degree of certainty, prompting a need for strategies that are more adaptive and
responsive to change.
Complex:
Complexity refers to the intricate web of interdependencies and interactions within the
business ecosystem. In a complex world, cause-and-effect relationships are often
nonlinear, and issues cannot be easily reduced to simple, linear solutions.
Organizations must recognize that their actions may have unintended consequences
and that understanding the entire system is crucial for effective decision-making.
Ambiguous:
Ambiguity points to the lack of clarity and the presence of multiple, often conflicting,
interpretations of events or situations. In an ambiguous environment, organizations
must contend with incomplete or contradictory information, making it challenging to
determine the best course of action. Leaders are faced with the difficult task of making
decisions in an environment where the path forward is unclear.
Embracing Adaptability and Flexibility:
The VUCA framework necessitates a fundamental shift in how organizations approach
strategic management. Strategies based on long-term planning, with rigid objectives
and inflexible execution, are ill-suited for a world characterized by constant turbulence
and unpredictability. Instead, organizations must embrace adaptability and flexibility
as core principles in their strategic thinking:
Shorter-Term, More Adaptable Strategies:
Organizations are increasingly recognizing the limitations of long-term strategic plans.
Instead, they are adopting shorter-term strategies that are more responsive to
changing circumstances. These strategies prioritize flexibility and the ability to pivot
quickly in response to new information or emerging challenges.
Iterative Planning and Execution:
An iterative approach to strategic planning and execution is becoming more prevalent.
This involves continuously reassessing and adjusting strategies as new data and
insights become available. By treating strategy as an ongoing process rather than a
fixed plan, organizations can remain nimble in the face of uncertainty.
Scenario Analysis:
Organizations are investing in scenario analysis, where they explore multiple potential
future scenarios and develop strategies that are robust across different outcomes. This
allows them to be better prepared for a range of possibilities and minimizes the impact
of unexpected events.
Cultivating a Culture of Agility:
Building a culture of agility and adaptability is essential. This involves empowering
employees to make decisions and take action in response to changing conditions.
Leaders must encourage experimentation and be open to new ideas, fostering a
culture that embraces change rather than fearing it.
The VUCA framework serves as a stark reminder of the volatile, uncertain, complex,
and ambiguous nature of the modern business environment. Organizations that wish
to thrive in this challenging landscape must let go of traditional paradigms of long-term
planning and instead adopt strategies that prioritize adaptability and flexibility. The
future may be uncertain, but by embracing change and being prepared for the
unexpected, organizations can position themselves to navigate the VUCA world with
resilience and success.
The "Black Swan" Phenomenon: Embracing Uncertainty in Risk Management
The concept of "Black Swan" events, popularized by Nassim Nicholas Taleb in his
book "The Black Swan," has had a profound impact on how organizations approach
risk management. These events refer to rare and highly unpredictable occurrences
with profound and far-reaching consequences, events that lie outside the realm of
normal expectations. The term itself is a reference to the once widely held belief that
all swans were white until the discovery of black swans in Australia, which shattered
that assumption.
Challenges to Traditional Risk Management:
Traditional risk management models were built on the assumption that risks could be
quantified, measured, and predicted within certain statistical bounds. These models
typically focused on known risks and historical data to calculate probabilities and
prepare for potential adverse events. However, Black Swan events, by their very
nature, are not only rare but also characterized by a lack of historical precedent. This
makes them elusive and virtually impossible to predict using conventional risk
assessment methods.
Unpredictability and Impact:
Black Swan events can have devastating consequences. Examples include the 2008
global financial crisis, the 9/11 terrorist attacks, or the COVID-19 pandemic. These
events are often catastrophic and can lead to significant financial losses, reputational
damage, and even the demise of organizations that fail to prepare.
Rethinking Risk Management:
The concept of Black Swan events has compelled organizations to rethink their
approach to risk management. Rather than trying to predict these rare occurrences,
organizations are encouraged to focus on building resilience and preparedness to
withstand unforeseen shocks. This shift in perspective emphasizes that while you may
not be able to predict specific Black Swan events, you can take steps to mitigate their
impact.
Resilience and Preparedness:
Building resilience means ensuring that your organization is robust enough to
withstand unforeseen shocks without collapsing. This involves diversifying risks,
having contingency plans in place, and maintaining financial buffers. Preparedness
goes hand-in-hand with resilience and involves scenario planning, stress testing, and
regularly reviewing and updating risk management strategies.
Flexibility and Agility:
In a world where Black Swan events can disrupt entire industries, flexibility and agility
are essential. Organizations should be prepared to pivot quickly and adapt their
strategies when faced with unexpected challenges. This may involve reallocating
resources, revising business models, or even entering new markets.
Learning from Black Swans:
While Black Swan events are by definition rare, organizations can still learn from them.
Post-event analysis can help identify vulnerabilities, weaknesses, and blind spots in
risk management processes. This information can be used to improve overall
preparedness and build a more resilient organization.
Insurance and Risk Transfer:
In some cases, organizations may choose to transfer the risk associated with Black
Swan events through insurance or other risk-sharing mechanisms. While this may not
eliminate the impact of such events entirely, it can provide a degree of financial
protection.
The concept of Black Swan events has fundamentally challenged the traditional
paradigms of risk management. It has underscored the importance of acknowledging
the existence of rare and unpredictable events and has prompted organizations to shift
their focus from predicting such events to building resilience and preparedness. While
Black Swans may remain elusive, organizations that embrace this mindset can
enhance their ability to withstand and recover from unexpected shocks, ultimately
ensuring their long-term sustainability in an uncertain world.

Systems Thinking:
Acknowledging complexity has led to the adoption of systems thinking in strategic
management. Organizations are encouraged to view themselves as part of broader
systems, recognizing the interconnectedness of various components. This approach
helps organizations understand that decisions have ripple effects and encourages
holistic problem-solving. By identifying feedback loops and reinforcing mechanisms,
organizations can better navigate complexity. Furthermore, systems thinking
promotes a proactive stance by not only analysing existing systems but also
envisioning and designing more resilient and adaptable systems that can thrive in an
ever-changing environment.
Systems thinking encourages organizations to embrace a dynamic perspective, where
they continually assess and adapt their strategies to align with evolving ecosystem
dynamics. This proactive approach enables organizations not only to react effectively
to change but also to shape and influence the systems in which they operate, driving
innovation and competitiveness.

Scenario Planning:
Scenario planning is an innovative approach that allows organizations to explore
multiple possible futures. By creating plausible narratives and examining how they
might play out, organizations can make more informed decisions and be better
prepared for uncertainty. This approach helps in identifying early warning signals and
strategic opportunities. Moreover, scenario planning fosters a culture of strategic
foresight within organizations, enabling them to anticipate emerging trends and
proactively shape their strategies to stay ahead in a rapidly evolving landscape.
Additionally, scenario planning encourages collaboration and cross-functional
thinking, as it requires input from various departments and stakeholders. This
interdisciplinary approach not only enhances the quality of strategic decisions but also
strengthens organizational alignment and resilience in the face of unpredictable
events.

Agile and Adaptive Strategies:

Agile methodologies, initially developed in software development, have been applied
to strategic management. These methodologies emphasize flexibility, iterative
development, and rapid response to change. Organizations adopting agile
approaches can pivot quickly in response to shifting circumstances, allowing for more
effective problem-solving in complex environments. Additionally, the agile mindset
encourages continuous improvement and learning, enabling organizations to evolve
and adapt their strategies in real-time based on customer feedback and changing
market dynamics. Moreover, the adoption of agile and adaptive strategies fosters a
culture of accountability and empowerment among employees. Team members are
encouraged to take ownership of their projects and make decisions in response to
evolving situations. This not only accelerates decision-making but also promotes
innovation and creativity within the organization, as employees are more engaged and
motivated to contribute to the organization's success.

Design Thinking:
Design thinking encourages organizations to empathize with their customers and
stakeholders, fostering a deep understanding of their needs and pain points. This
human-centred approach helps organizations develop innovative solutions and adapt
to changing demands, which is particularly important in a rapidly evolving business
landscape. Beyond product and service design, design thinking can be extended to
strategic decision-making, enabling organizations to co-create value with customers
and stakeholders and stay attuned to evolving preferences and expectations.
Furthermore, the principles of design thinking promote cross-functional collaboration
and diversity of perspectives. By involving individuals from various departments and
backgrounds in the problem-solving process, organizations can harness a wider range
of insights and ideas. This collaborative approach not only enhances the quality of
solutions but also promotes a culture of creativity and customer-centricity throughout
the organization.

Open Innovation:
Recognizing that they cannot possess all the knowledge and resources they need,
organizations are embracing open innovation. This involves collaborating with external
partners, including customers, suppliers, and even competitors, to access new ideas
and technologies. Open innovation helps organizations tap into external expertise and
stay competitive in a fast-changing world. Moreover, it encourages a culture of
collaboration and knowledge sharing, fostering an environment where innovation
thrives through diverse perspectives and collective intelligence. Furthermore, open
innovation can lead to the development of ecosystems where multiple stakeholders
collaborate and co-create value. By engaging in open innovation networks,
organizations can access a broader pool of ideas and resources, accelerate product
development, and enhance their ability to respond to emerging market trends. This
approach not only drives innovation but also strengthens partnerships and fosters a
sense of shared ownership within the broader innovation ecosystem.

In conclusion, the challenging insights and innovative approaches to uncertainty and

complexity have ushered in a new era in the field of strategic management. The
traditional, linear, and predictive approaches are no longer adequate in a VUCA world
marked by Black Swan events and complex systems. Instead, organizations are
adopting more agile, adaptive, and holistic strategies.
The dominant discourse on strategic management has evolved from a focus on
predictability and control to one that embraces ambiguity, resilience, and continuous
learning. Organizations are recognizing that the future is uncertain, and strategies
must be flexible enough to navigate unforeseen challenges while capitalizing on
emerging opportunities.
Furthermore, as organizations continue to grapple with the complexities of the modern
business landscape, these insights and approaches will remain central in helping them
thrive in a VUCA world where change is the only constant. By embracing uncertainty
and complexity, organizations can position themselves not only to survive but also to
thrive in the face of ever-evolving challenges and opportunities.
Strategic management is no longer a static discipline but a dynamic and adaptive
process that aligns with the fluid nature of today's business environment.
Organizations that embrace these principles will be better equipped to navigate the
turbulent waters of the modern business world, seize new opportunities, and drive
innovation, ultimately ensuring their long-term success and sustainability.

Part 2:
2.1. Which AI tool did you use?
ChatGPT and Google Bard

2.2. What query input did you insert into the AI tool?
Write an essay on the challenging insights and approaches to uncertainty and
complexity that are proposed to organisations and the dominant discourse on Strategic
management
2.3. Did you refine your input or request into the AI tool?
Yes

2.4. Repeat “What query input did you insert into the AI tool” as many times as
you refined your search.
1. Elaborate on the introduction

2. Elaborate on the body

3. Elaborate on the conclusion

4. Elaborate on the following: VUCA World: The VUCA framework (Volatile,

Uncertain, Complex, and Ambiguous) is a key insight that challenges
organizations. It highlights the constant turbulence and unpredictability in the
business environment. Organizations must embrace the idea that the future is
uncertain and develop strategies that are flexible enough to adapt to changing
circumstances. Strategies based on long-term planning are less relevant in this
context, and shorter-term, more adaptable approaches become imperative.

5. elaborate on the following: The concept of "Black Swan" events, introduced by

Nassim Nicholas Taleb, emphasizes the importance of acknowledging rare and
unpredictable occurrences with significant consequences. Traditional risk
management models struggle to anticipate such events, leading organizations
to reconsider their approach to risk. Instead of trying to predict these outliers,
organizations are encouraged to build resilience and preparedness to withstand
unforeseen shocks.

6. Add one more paragraph into the following sections: Systems Thinking:
Acknowledging complexity has led to the adoption of systems thinking in
strategic management. Organizations are encouraged to view themselves as
part of broader systems, recognizing the interconnectedness of various
components. This approach helps organizations understand that decisions
have ripple effects and encourages holistic problem-solving. By identifying
feedback loops and reinforcing mechanisms, organizations can better navigate
complexity.

Scenario Planning: Scenario planning is an innovative approach that allows

organizations to explore multiple possible futures. By creating plausible
narratives and examining how they might play out, organizations can make
more informed decisions and be better prepared for uncertainty. This approach
helps in identifying early warning signals and strategic opportunities. Agile and
Adaptive Strategies: Agile methodologies, initially developed in software
development, have been applied to strategic management. These
 methodologies emphasize flexibility, iterative development, and rapid response
to change. Organizations adopting agile approaches can pivot quickly in
response to shifting circumstances, allowing for more effective problem-solving
in complex environments.

Design Thinking: Design thinking encourages organizations to empathize with

their customers and stakeholders, fostering a deep understanding of their
needs and pain points. This human-centered approach helps organizations
develop innovative solutions and adapt to changing demands, which is
particularly important in a rapidly evolving business landscape.

Open Innovation: Recognizing that they cannot possess all the knowledge and
resources they need, organizations are embracing open innovation. This
involves collaborating with external partners, including customers, suppliers,
and even competitors, to access new ideas and technologies. Open innovation
helps organizations tap into external expertise and stay competitive in a fast-
changing world.

7. elaborate on the following by adding another paragraph: Systems Thinking:

Acknowledging complexity has led to the adoption of systems thinking in
strategic management. Organizations are encouraged to view themselves as
part of broader systems, recognizing the interconnectedness of various
components. This approach helps organizations understand that decisions
have ripple effects and encourages holistic problem-solving. By identifying
feedback loops and reinforcing mechanisms, organizations can better navigate
complexity. Furthermore, systems thinking promotes a proactive stance by not
only analyzing existing systems but also envisioning and designing more
resilient and adaptable systems that can thrive in an ever-changing
environment.

8. do the same for the following: Scenario Planning: Scenario planning is an

innovative approach that allows organizations to explore multiple possible
futures. By creating plausible narratives and examining how they might play
out, organizations can make more informed decisions and be better prepared
for uncertainty. This approach helps in identifying early warning signals and
strategic opportunities. Moreover, scenario planning fosters a culture of
strategic foresight within organizations, enabling them to anticipate emerging
trends and proactively shape their strategies to stay ahead in a rapidly evolving
landscape.

9. do the same for the following: Agile and Adaptive Strategies: Agile
methodologies, initially developed in software development, have been applied
to strategic management. These methodologies emphasize flexibility, iterative
development, and rapid response to change. Organizations adopting agile
approaches can pivot quickly in response to shifting circumstances, allowing
for more effective problem-solving in complex environments. Additionally, the
 agile mindset encourages continuous improvement and learning, enabling
organizations to evolve and adapt their strategies in real-time based on
customer feedback and changing market dynamics.

10. do the same for the following: Design Thinking: Design thinking encourages
organizations to empathize with their customers and stakeholders, fostering a
deep understanding of their needs and pain points. This human-centered
approach helps organizations develop innovative solutions and adapt to
changing demands, which is particularly important in a rapidly evolving
business landscape. Beyond product and service design, design thinking can
be extended to strategic decision-making, enabling organizations to co-create
value with customers and stakeholders and stay attuned to evolving
preferences and expectations.

11. do the same for the following: Open Innovation: Recognizing that they cannot
possess all the knowledge and resources they need, organizations are
embracing open innovation. This involves collaborating with external partners,
including customers, suppliers, and even competitors, to access new ideas and
technologies. Open innovation helps organizations tap into external expertise
and stay competitive in a fast-changing world. Moreover, it encourages a
culture of collaboration and knowledge sharing, fostering an environment where
innovation thrives through diverse perspectives and collective intelligence.

Part 3
3. After using the AI tool
3.1 What percent of the Assignment did you change from what was generated
by the AI tool?
(Give a rough estimate of the percentage 0-100%.)
I changed approximately 15% of the essay.

3.2. (a) Were you happy with the generated content? Yes or No or Unsure
Yes I was happy with the generated content.

3.2. (b) Why?

The way that I had entered my query was basic enough for the AI to understand what
I wanted out of it and thus I was happy with the generated content.
3.3. (a) The essay generated by AI could not be used as is. Agree or Disagree
Disagree

3.3. (b) Give reasons

I disagree with the above statement due to the fact that I had to enter in multiple other
queries into the AI to refine the final output that I have used in part one, the extra
refinements have been noted above in 2.4.

3.4. (a) The essay generated was good enough to submit. (if plagiarism was not
a concern) Yes or No
Yes and no

3.4. (b) Discuss

I say yes because around 90% of the essay is AI written and I say no because of all
the refinements that needed to be made as well as editing the grammar and spelling
of certain words.

3.5. (a) You only used the AI tool to generate ideas to help start your assignment.
Yes or No
No

3.5. (b) Discuss

I used my knowledge and understanding of AI to ask it the right questions and enter
the right inputs for it to generate the essay for me, although I did edit and make
changes to the essay after the AI had produced it.